This paper studies a very thorough e-trading data base, including all of the bid/ask orders and daily portfolio values of more than 600 on-line amateur traders in the Paris Stock market focusing on the stormy period covering 2007-2009. Traders also participate in a monthly contest and can win...

Market liquidity risk refers to the degree to which large size transactions can be carried out in a timely fashion with a minimal impact on prices. Emphasized by the G10 report in 1993 and the BIS report in 1997, it is viewed as one factor of destabilization in the financial markets, as...

Market liquidity risk refers to the degree to which large size transactions can be carried out in a timely fashion with a minimal impact on prices. Emphasized by the G10 report in 1993 and the BIS report in 1997, it is viewed as one factor of destabilization in the financial markets, as...

Market liquidity risk refers to the degree to which large size transactions can be carried out in a timely fashion with minimal impact on prices. Emphasized by the G10 report in 1993 and the BIS report in 1997, it is one factor of destabilization in the financial markets, as illustrated recently...

We consider a non necessarily complete financial market with one bond and one risky asset, whose price process is modelled by a suitably integrable, strictly positive, càdlàg process $S$ over $[0, T]$. Every option price is defined as the conditional expectation under a given equivalent (true)...

The objective of this article is to identify the monetary plurality in economic theory. We will try to throw light on the way in which theories are attracted towards both unicity and plurality, and more specifically by unification and diversification of money. It should also be noted, in this...

In the short novel Ferragus, Balzac tells of the rise and fall of the Desmarets couple. Their trajectory within the Parisian commercial bourgeoisie under the Restauration period illustrates three interwoven forms of symbolic capital: professional reputation, matrimonial trust and social honor....

The recent financial crisis has triggered radical criticism against financial markets. In this paper, we propose to analyse this criticism in the perspective drawn by Boltanski and Thevenot (1991/2006) around the notion of justification. We see the main debate as opposing the critics and the...